New York State Common Retirement Fund Buys 18,564 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

New York State Common Retirement Fund boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 43.9% in the fourth quarter, Holdings Channel reports. The firm owned 60,842 shares of the company’s stock after acquiring an additional 18,564 shares during the period. New York State Common Retirement Fund’s holdings in Revolution Medicines were worth $1,745,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Revolution Medicines by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after buying an additional 282,786 shares during the period. Vanguard Group Inc. grew its position in shares of Revolution Medicines by 3.2% in the third quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock valued at $266,935,000 after purchasing an additional 303,088 shares during the last quarter. Northern Trust Corp increased its stake in shares of Revolution Medicines by 1.7% in the third quarter. Northern Trust Corp now owns 933,125 shares of the company’s stock worth $25,829,000 after purchasing an additional 15,432 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Revolution Medicines by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 766,669 shares of the company’s stock worth $21,221,000 after purchasing an additional 55,558 shares during the last quarter. Finally, Rock Springs Capital Management LP boosted its stake in Revolution Medicines by 3.2% during the 3rd quarter. Rock Springs Capital Management LP now owns 725,152 shares of the company’s stock valued at $20,072,000 after purchasing an additional 22,440 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Down 1.5 %

NASDAQ RVMD opened at $38.31 on Thursday. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $40.21. The stock’s 50 day moving average is $33.59 and its two-hundred day moving average is $28.45. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of -10.16 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. During the same quarter last year, the company posted ($0.63) earnings per share. Revolution Medicines’s quarterly revenue was down 95.2% compared to the same quarter last year. On average, analysts predict that Revolution Medicines, Inc. will post -3.18 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer upped their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Piper Sandler began coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 target price for the company. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $36.00 to $48.00 in a research report on Wednesday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Finally, Wedbush lifted their target price on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines has a consensus rating of “Buy” and a consensus price target of $41.20.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the transaction, the chief financial officer now directly owns 101,959 shares in the company, valued at $4,081,418.77. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, General Counsel Jeff Cislini sold 1,252 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the sale, the general counsel now owns 55,874 shares in the company, valued at $1,764,500.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $40.03, for a total value of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at $4,081,418.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is owned by insiders.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.